Constellation Brands (STZ) stock dropped over 13% after the producer of popular beer brands like Corona and Modelo beer posted lower-than-expected fiscal Q3 sales. However, its free cash flow (FCF) remained strong and management raised the FCF outlook. Could STZ stock be a bargain here?
STZ was trading at $189.23 in late morning markets, down over 13.5% from its closing price of $219.28 yesterday. A month ago on Dec. 9, it was at $244.31, a $55 drop or -22.5%.
